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<br />M Martinsville <br /> <br />City Council <br />Agenda Summary <br /> <br />Meeting Date: <br />Item No: <br />Department: <br />Issue: <br /> <br />July 11, 2006 <br />6. <br /> <br />Commissioner of the Revenue <br /> <br />Discussion concerning adjustments to Elderly & Disabled <br />Tax Relief income limits and filing deadlines. <br /> <br />Summary: The exemption schedule for Martinsville's Elderly & Disabled <br />Real Estate Tax Relief has not been adjusted since September 1997. During that <br />time Social Security cost of living increases have increased a total of 28.22%. As a <br />result of the Social Security cost of living increases some individuals who benefit <br />from the relief program have received decreased relief because their annual income <br />from Social Security benefits throws them into a different qualification category, or <br />in some instances, totally disqualifies them from any relief. The effective date <br />would be retroactive to July 1, 2006 so that applicants who are currently qualified <br />would benefit from the increase with the December 2006 real estate billing. Those <br />2006 applicants that were disqualified due to being over the income level will <br />recognize a benefit on this billing installment, also. <br /> <br />In addition, recommended changes to the City's relief ordinance would allow the <br />Commissioner of the Revenue the authority to accept and process late filings for <br />first-time applicants or those individuals whom the Commissioner of the Revenue <br />determines would face an extreme hardship from the failure to grant the relief. <br />Other conforming language needs to be added to reflect legislative changes since <br />1997. These changes would be effective January 1,2007. <br /> <br />This will require the adoption of an Ordinance on first and second reading to <br />amend the City Code. <br /> <br />Attachments: <br /> <br />None <br /> <br />Recommendations: <br /> <br />Place on next agenda for first reading <br />